US jobless claims drop by 12,000

First-time unemployment claims dropped by 12,000 to 350,000 in the week that ended Saturday, the Bureau of Labor Statistics said Thursday. The four-week rolling average of first-time claims rose by 10,750 to 348,250 in part due to a jump of 66,000 in one week during the partial U.S. government shutdown. In addition, the previous week's claims figure was revised from 358,000 to 362,000. The largest increases in initial claims for the week that ended Oct. 12 were in California with 11,781 new claims, Pennsylvania with 3,362) and New York with 2,443. The largest decreases were in Kentucky, down by 2,178, Ohio with 2,164 fewer claims and Minnesota with 1,375 fewer claims.